SINGAPORE, April 24 (Reuters) - Singapore’s industrial output rose 16.5% in March on a year-on-year basis, surging past expectations, as pharmaceutical production more than doubled, data showed on Friday.
The median of six economists forecasts was for a 6.3% drop.
On a month-on-month and seasonally adjusted basis, industrial production rose 21.7% in March, data from the Singapore Economic Development Board showed. Economists had expected a 2% fall. (Reporting by Aradhana Aravindan and John Geddie in Singapore; Editing by Kim Coghill)